Copper Jumps in London on Greece Bailout Agreement: LME Preview-Shanghai Metals Market

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Copper Jumps in London on Greece Bailout Agreement: LME Preview

Industry News 05:03:25PM Feb 21, 2012 Source:SMM

Feb. 21 (Bloomberg) –Copper jumped in London after euro- area finance ministers reached agreement on a second debt bailout package for Greece, boosting the demand outlook for raw materials.

Market News:

Metals News:

Metal Prices:
-- Copper jumped 1.3 percent to $8,339 a metric ton by 7:40
a.m. on the London Metal Exchange. Relative Strength Index 52.
-- Aluminum gained 0.9 percent to $2,199 a ton. RSI 50.
-- Zinc advanced 1.4 percent to $2,009 a ton. RSI 46.
-- Lead jumped 1.5 percent to $2,082 a ton. RSI 45.
-- Nickel rose 1.1 percent to $19,975 a ton. RSI 45.
-- Tin jumped 1.9 percent to $23,950 a ton. RSI 55.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   79.040           -0.1           -1.4
Crude oil           $104.72           1.4            6.0
Gold                $1,740.20         0.3           11.3
MSCI World Index    1,294.65         -0.1            9.5


Economic Events:
                                      Forecast    Prior     Time
                                                        (London)
U.S. Chicago Fed Nat Activity Index JAN  0.22     0.17     13:30
Euro-Zone Consumer Confidence       FEB  -20.1   -20.7     15:00


 

Key Words:  copper;LME preview 

Copper Jumps in London on Greece Bailout Agreement: LME Preview

Industry News 05:03:25PM Feb 21, 2012 Source:SMM

Feb. 21 (Bloomberg) –Copper jumped in London after euro- area finance ministers reached agreement on a second debt bailout package for Greece, boosting the demand outlook for raw materials.

Market News:

Metals News:

Metal Prices:
-- Copper jumped 1.3 percent to $8,339 a metric ton by 7:40
a.m. on the London Metal Exchange. Relative Strength Index 52.
-- Aluminum gained 0.9 percent to $2,199 a ton. RSI 50.
-- Zinc advanced 1.4 percent to $2,009 a ton. RSI 46.
-- Lead jumped 1.5 percent to $2,082 a ton. RSI 45.
-- Nickel rose 1.1 percent to $19,975 a ton. RSI 45.
-- Tin jumped 1.9 percent to $23,950 a ton. RSI 55.


Other Markets:
                     Last           % Change       % YTD
U.S. Dollar Index   79.040           -0.1           -1.4
Crude oil           $104.72           1.4            6.0
Gold                $1,740.20         0.3           11.3
MSCI World Index    1,294.65         -0.1            9.5


Economic Events:
                                      Forecast    Prior     Time
                                                        (London)
U.S. Chicago Fed Nat Activity Index JAN  0.22     0.17     13:30
Euro-Zone Consumer Confidence       FEB  -20.1   -20.7     15:00


 

Key Words:  copper;LME preview